Housing loan
This query is : Resolved
06 December 2012
Hello,
X is father of Y. They both are co-owners of a property. they took a loan from bank. Y is paying full EMI of loan. So, My question is that whether Y is eligible for claiming full deduction of under section 24.
X is father of Y. They both are co-owners of a property. they took a loan from bank. Y is paying full EMI of loan. So, My question is that whether Y is eligible for claiming full deduction of under section 24.
06 December 2012
if X is dependent on Y, in that case you can claim the full amount u/s 24 and 80C (for interest & principal respectively).
06 December 2012
If X is not dependent on Y & filing his own return then what will be the situation.
08 December 2012
BOTH THE PERSON SHALL GET THE DEDUCTION EQUALLY IRRESPECTIVE OF WHO IS PAYING.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
